PU Films Market Share, growth analysis-2021
PU Films Market overview:
The polyurethane filmmarket is predicted to growfrom USD 449.4 million in 2020 to USD 688.1 million by 2025, with a CAGR of8.8% during the foreseen period. Polyurethane (PU) films are also known asurethane films, they are prominent and are employed in various segments aroundthe world. They are employed in many industries, such as the medical, food andindustrial markets, because they have properties such as high general strengthand resistance to moisture, chemicals and abrasion. They are transparent andelastic and do not contain plasticizers. They are employed in exteriorapplications, medical devices, food contact applications and surfaceprotection. These films are also available in different hardnesses anddurometers. The medical industry has dominated the market in 2020 and is predictedto grow during the foreseen period due to increased investments in the sectoraround the world. The growing number of wind power plants is likely to be anopportunity in the future.
Impact of Covid 19 on the PU Films Market:
There are two parts. The first refersto the consumption of raw materials. We do not see any impact on the rawmaterial supply base as most of the polypropylene (key raw material forpackaging films) does not come from China. And the second is that even if thereis an impact on the sale by China, it will only have a positive impact on theIndian industry. In fact, if China did not sell to other countries, India wouldhave better opportunities.
PU Films Market drivers and restraints:
PU films offerexcellent low temperature tensile strength and flexibility, making themsuitable for a variety of applications. It is a significant factor driving the expansionof the worldwide industry for polyurethane films. In addition to that, they arevery profitable and easy to process, that’s generates a high call from thetextile and leisure businesses. Therefore, there is a strong call for PU filmsfrom the automotive industry, which accelerates its expansion. Moreover, PUfilms find several uses in the construction industry owing to their hightensile strength. Along with this, they offer microbial resistance, which hasgenerated a great call from the diagnostic industry. Polyurethane films arewidely employed for patient care, surgical applications, and laboratories.Also, escalating disposable income and people's purchasing power, escalating callfor textile and leisure products are the other factors likely to drive the expansionof the worldwide market for polyurethane films during the foreseen period.Additionally, the growing call for luxury cars and premium passenger cars amongmiddle-class families is one of the other factors likely to drive revenue expansionfrom the worldwide polyurethane film market. However, the high cost of PU filmsis pushing small manufacturers to turn to mixed PU films that are cheaper thantheir counterparts, which is the main factor likely to hold back the expansionof the worldwide PU film market. Furthermore, PU films are more expensive thanother replacement films, which is predicted to slow the expansion of the worldmarket for PU films.
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Report segmented as:
By type:
· Polyether PU films
· Polyester PU films
By function:
· Thermoplastic-based PU films
· Thermoset-based PU films
By end useindustry:
· Textile & leisure
· Automotive & aerospace
· Medical
Geographical analysis:
On the basis ofregion, Asia Pacific dominates the worldwide industry for polyurethane films owingto the expansion of the automotive and construction businesses. The rise indisposable income has also contributed to the expansion of the industry in thisregion. The expansion in this region can be attributed to high investment ininfrastructure and the expansion of the aerospace sector. Additionally, thegrowing popularity of luxury vehicles has fueled market expansion in thisregion. The Asia Pacific region is predicted to lead the PU film industrythroughout the foreseen period. APAC's PU film market expansion can beattributed to the growing call for luxury and high-end automobiles, which usePU films to protect paint.
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The Scope of the report:
This report offers the current productand services market evaluation and the future estimation of the market. Ithelps us understand the market better through size anticipation and CAGRcalculation to estimate the next market. It has a broader segmentation forbetter understanding of the enterprising of the market at a low level bysegregating the market into smaller sectors.
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